Legal validity of bond on professionals

This query is : Resolved

Sachin Jain (Querist)
Follow

07 October 2008 Hello,

I would like to know what is the legal validity of the bond on professional working in MNCs'.
For example, Mr. A is working in a MNCs' and has singed a bond not to leave the organization for one year from the date of joining ( and he is IT professional), can MNC file a suit on Mr. A if he leaves his job before completing that period. Again if some amount is mentioned in bond and Mr. A didn't pay that amount while breaching bond, can MNC force him to pay that amount. Please advice.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

07 October 2008 Company can approach court for specific performance.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
Follow

08 October 2008 Any bond in restraint of free will will be, in general, void. But in the case of service contracts any terms mutually agreed between the parties that does not present a reasonability of terms and conditions in the light of the cosideration, will be subject to scytiny.
Each case could be unique.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now